A new report unveiled by Lighthouse Luxury and CRE Matrix projects the ‘Bandra Bay’ waterfront as Mumbai’s next ultra-luxury development hub, with an estimated potential of over Rs 1 Lakh crore and nearly 8 million sq. ft. of premium residential and retail projects. The report, titled ‘Why Bandra Bay is Mumbai’s Most Iconic Waterfront Investment,’ was launched by Shri Ashish Shelar, Minister for Information Technology and Cultural Affairs, Government of Maharashtra.

Described as India’s answer to Palm Jumeirah and Marina Bay, ‘Bandra Bay’ is set to transform 140 acres along Bandra Reclamation into an integrated luxury destination. The report highlights nine growth drivers for the development — including its strategic location, architectural distinction, exclusivity, global appeal, and sustainable design.

According to the analysis, Mumbai’s waterfront properties command a 15–20 per cent price premium, with Bandra Bay expected to outperform other luxury hubs such as Juhu and Worli. The region has witnessed infrastructure investments exceeding Rs 2.62 trillion since 2002, encompassing 649 km of transport networks including the Coastal Road, Sea Link, Metro lines, Atal Setu Bridge, and the upcoming Bullet Train.

Developers including Adani Realty, Hiranandani Communities, Oberoi Realty, Godrej Properties, L&T Realty, and The Wadhwa Group are already planning large-scale mixed-use projects in the area. The report forecasts that about 8,000 CXOs will seek luxury residences by 2030, driving further demand for premium housing near Bandra–Kurla Complex.

Shri Ashish Shelar said the initiative would “redefine Mumbai’s urban narrative” and position the Bandra–Kurla catchment as a world-class township integrating infrastructure, culture, and innovation. Dr Niranjan Hiranandani described Bandra Bay as “Mumbai’s next icon for premium living,” while Lighthouse Proptech’s Founder Sumesh Mishra noted, “Bandra Bay is not just a location — it is a movement.”

With its strategic location, infrastructure connectivity, and lifestyle appeal, Bandra Bay is expected to cement Mumbai’s position as the ‘Waterfront Capital’ of India and one of the world’s leading urban luxury destinations.